I am trying to open a RAW photo in Photohsop CS5 as a Smart Object. I have the photo selected in Bridge. When I go to execute File>Place in Bridge CS5 the menu entry indicates there should be a menu displayed. However, clicking on Place does not bring up a menu.

In order to open a raw image into Photoshop as a SO you'll need to open the image in Camera Raw and click on the info link (in blue, it's the Workflow Options) and select the option to Open in Photoshop as a Smart Object.

I open the image in Bridge as a Camera RAW file. I click on the blue label in the center below the image. In workflow options I select 'Open in Photoshop as Smart Object'. I click on OK, and nothing appears to happen.

I open Photoshop, and all I find I find is the blank psd I have set up to receive the RAW image. There is no indicaton that anything has changed.

I open the image in Bridge as a Camera RAW file. I click on the blue label in the center below the image. In workflow options I select 'Open in Photoshop as Smart Object'. I click on OK, and nothing appears to happen.

When you click OK in the dialog, do you then Open Object button in Camera Raw?

When you have the Workflow Option dlog open, did you check the option to Open in Photoshop as a SO? If you do, then ACR will have a different button called Open Object. Clicking on that button will open the image in Photoshop as a SO.